A Look Back At Some Of The Biggest Economic Events Of 2016 And Early 2017

We wanted to give our readers something informative yet different and thought what better way for that than with a quick recap of the major events from 2016 to early 2017 from across the globe, India and us at KredX. 2016 has been quite a rollercoaster ride for the world and us in India. From terrifying events to groundbreaking changes and new opportunities, it certainly was a mixed bag of emotions. Let’s take a look back at some of the most impactful stories from the last year and early 2017.

Why Having A Credit Control Is Vital To Every Small Business

Why Having Effective Credit Control Is Vital To Every Small Business

Every small business owner would be familiar with the panic associated with customers paying late. It wrecks havoc with your business operations, your planning and regular payments to employees and other operational charges. In fact, it has been found that over 55% of the total value of B2B invoices in India were reported to be paid late according to a 2016 report by Atradius. This causes problems for the business and in turn, the other businesses it works with, thereby causing a negative cascading effect. To counter this, most businesses have in place a process called credit control. In simple words, it is a practice followed by businesses to ensure that customers don’t take too long to pay you by following up through emails or calls.

Invoice Discounting vs. Business Loan

Invoice Discounting vs. Business Loans: A Quick Guide

Most businesses inevitably face a cash crunch or two during their lifespan. To tide over such lean periods, a business can opt for financing options available in the market, the most obvious of which is a business loan or alternative financing solutions such as invoice discounting. How is invoice discounting different from a business loan? What are the advantages of it over a regular business loan? Here’s how!

Technology Trends That Small Businesses Should Adopt To Stay Ahead

5 Technology Trends Every Small Business Should Focus On To Stay Ahead

It’s important to move with the times and evolve; as an individual, an entity or any kind of organisation. If you’re a business, it is imperative that you stay on top of the latest trends in your industry and use it to better your business. As technology continues to evolve rapidly, businesses need to embrace emerging, cutting-edge technologies before it is too late else you will run the risk of becoming an industry laggard.

We scouted the internet for reports from leading sources like the SMB Group, Cerasis, Deloitte, KPMG and many more for the 2017 technology trends for small businesses to bring you a consolidated list of tech trends your business should not miss out on! Are you and your business on top of these technology trends listed here?

Bad Credit Affecting Business Loan Approvals? Worry Not!

Bad credit history bogging your business down? Sounds familiar, doesn’t it? Poor credit, be it personal or company, makes it that much harder for a business looking for a loan or any kind of funding. Banks scrutinise your credit history before approving your loan application. You may have had your reasons as to why you couldn’t pay up on time or messed up your payments. But to any lender, a person with a bad credit is high-risk, because it means either that you’ve not repaid on time or that you’ve seen harsh times. Fret not, all is not lost! There are a variety of alternative financing options which look into your operating history and business strength, and not just your credit history. Here, we introduce you to 5 viable financing options for businesses with bad credit.

Has the Credit Guarantee Scheme Really Helped The SME Industry?

Has The Credit Guarantee Scheme Really Helped The SME Industry?

The improving SME landscape in India is a testament to the efforts of the government through the years. In the past, applying for funding or availing loans for SME’s was no easy task. To help with this issue, the Government of India and the Small Industries Development Bank of India (SIDBI) set up the Credit Guarantee Fund Trust for Small and Micro Enterprises (CGTMSE) in August, 2000 under the Credit Guarantee Scheme (CGS). The CGTMSE was introduced with an intention to allay all issues surrounding loans and funding within the small, micro and medium enterprises segment. The scheme sent out directives to banks wherein they were required to sanction loans of up to Rs.1 Crore without collaterals or third party guarantee to SME’s. While the introduction of the scheme brought about some much needed changes within the sector, there were still a number of shortfalls.

the tax saving secret businesses need to know about

The Tax Saving Secret Businesses Need To Know About

The Small, Medium and Micro Enterprises (SME’s) industry in the country is teeming with a multitude of businesses. The government has introduced a number of schemes to empower this sector and encourage indigenous products. However, these businesses are often oblivious to the variety of schemes running and lose out on substantial benefits. One such scheme that helps with tax saving is the R&D Tax Credit Scheme that was introduced to encourage small businesses to take risks and invest in research and development (R&D).